A major characteristic of monopoly is that
A) no barriers to entry exist.
B) the product is identical to that produced by other companies.
C) a barrier to entry keeps out competitors.
D) competition is intense.
E) a few firms compete with each other.
C
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Federal Deposit Insurance Corporation (FDIC)
A growth process whereby relatively poorer nations increase their income by taking advantage of knowledge and technologies already invented in other, technologically more advanced countries is referred to as:
A) trade-based growth. B) transfer growth. C) innovative growth. D) catch-up growth.
Refer to Table 2-1. Assume Dina's Diner only produces sliders and hot wings. A combination of 60 sliders and 25 hot wings would appear
A) along Dina's production possibilities frontier. B) inside Dina's production possibilities frontier. C) outside Dina's production possibilities frontier. D) at the vertical intercept of Dina's production possibilities frontier.
Since half of the FICA tax is paid by firms and the other half is paid by workers, the burden of the tax must fall equally on firms and workers
a. True b. False Indicate whether the statement is true or false